Cryptocurrency Trader Predicts Ongoing Rally for Major Memecoin, Provides Updated Analysis on Ethereum and Solana’s Performance

An eminent cryptocurrency analyst with a significant following has indicated a bullish outlook for the leading memecoin in terms of market capitalization.

The anonymous expert, known as Altcoin Sherpa, communicated to his audience of over 230,700 on the social network platform X that Dogecoin (DOGE) shows a promising formation on its four-hour trading chart, following a rebound from the price point of $0.36.

“DOGE: this chart isn’t signaling a downturn. There’s still a chance to shift your full portfolio into this. Anticipate the next upward movement imminently.”

Moreover, he proposes that DOGE might approach its highest historical price near $0.74.

“DOGE isn’t much distant now. My thoughts are it might revisit its peak from before in this cycle, contrary to my earlier doubts. Time to elevate your expectations.”

At the moment, DOGE is valued at $0.41, with a 6.8% increase over the past day.

Regarding Ethereum (ETH), when paired with Bitcoin (BTC), the analyst expresses the viewpoint that the market low might not have been reached despite ETH exhibiting a breakout pattern on the four-hour chart.

“It’s a mistake to get deceived by this ETH/BTC candle. ETH will make a move only after BTC finishes its rally. Until that time, anticipate ETH to continue its slow decline and erratic behavior. As an instance, if BTC hits $120,000 in an incredible surge, ETH/BTC pair would significantly suffer.”

Currently, ETH/BTC is trading at 0.03356 BTC ($3,314), marking a 2.19% decline within a day.

Finally, the analyst shares his belief that Solana (SOL) will surpass the performance of other cryptocurrencies this cycle.

“SOL: This cycle offers no second-best blockchain. It provides all you require and, to my understanding, the premier user experience. Rejoice in the new all-time highs.”

The price of Solana stands at $256 currently, having ascended over 49% in the previous month.

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Disclaimer: The views expressed at The Daily Hodl are not to be taken as investment advice. It is essential for investors to perform their own due diligence before engaging in high-risk investments in Bitcoin, other cryptocurrencies, and digital assets. It is important to be aware that your transactions and exchanges are at your own risk, and any losses incurred are your responsibility. The Daily Hodl disclaims any role of an investment advisor. The Daily Hodl partakes in affiliate marketing programs.

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